Point and Figure Chart
Point and Figure Chart is a chart type used in technical analysis that instead of drawing price rate changes against time it draws price change direction against price. Every mark in the chart represents a time interval and shows the price direction X represents a price increase and O represents a decrease. Every vertical line consists of consecutive same direction (increase or decrease). In a point and figure chart with one day time interval, 4 days where each day closes higher than the previous day will be drawn as 4 X signs in one vertical row. The presentation of this graph gives a different perspective that can uncover support and resistance lines or other patterns.